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SPH - The 11.0% Distribution Yield Of Suburban Propane Partners Is Safer Than You Think
Suburban Propane Partners L.P.
Suburban Propane Partners (SPH) has dramatically underperformed the market in the last five years. During this period, the stock has plunged 50% whereas S&P has rallied 58%. Consequently, while S&P is at an all-time high, Suburban is hovering around its 10-year lows. However, income-oriented investors should note that the depressed stock price of Suburban has resulted in an exceptional 11.0% distribution yield. While such high yields usually signal the risk of an imminent distribution cut, the yield of Suburban is much safer than most investors think.